Ritika Pratap 
Central Bank of Seychelles Governor, Caroline Abel
Central banks must safeguard their operational independence, which is critical during times of crisis.
This was highlighted by Central Bank of Seychelles Governor Caroline Abel during the 39th meeting of the South Pacific Central Bank Governors in Nadi.
Abel says it is important to have a strong governance structure, stating that central banks are a beacon of stability and must focus on placing people at the center of their institutions.
Abel urged future central bankers to prioritize transparency, consider climate change in policy formulation and develop a robust digital economy agenda while remaining adaptable to changes in human capacity and technology.
The meeting also discussed the critical role of remittances and the challenges arising from the withdrawal of correspondent banking relationships in the Pacific.
Experts from the World Bank and the Pacific Islands Forum Secretariat provided updates on regional initiatives, encouraging central banks to embrace innovation and enhance cooperation among all stakeholders.
The Governors shared valuable insights on modernizing national payment systems to foster economic growth and resilience in the face of increasing cyber threats.
The meeting brought together Governors and senior representatives of the Reserve Banks of Australia, Fiji, New Zealand, Papua New Guinea, Vanuatu, Central Banks of Samoa, the Solomon Islands, and the National Reserve Bank of Tonga.
